10 Barometer stats that caught our eye

Our colleagues at Close Brothers Asset Finance frequently survey members of Ireland’s small and medium sized business enterprises on a wide range of topics, from their thoughts on the cost of doing business to the impact of Brexit.

Following the release of their latest SME research, we pick out 10 stats that caught our eye…

1. Cost of fuel, supply of materials / stock, and staff pay rises have had the most impact on businesses’ income

2. Achieving growth is the main priority for a third of Irish businesses

3. 61% of Irish firms have noticed a disruption in supply of materials as a result of the war in Ukraine

4. Half of Ireland’s SMEs have been negatively impacted by rising inflation

5. 51% plan to raise wages to help their employees keep pace with the cost of inflation

6. 42% of businesses plan to seek funding in the coming 12 months

7. 60% of business owners believe taking out funding to protect cashflow is a good business strategy

8. The top five things businesses would spend funding on are:

9. Brexit is negatively impacting 85% of Irish SMEs’ ability to trade

10. Three quarters of Irish business owners are expecting to invest in technology in the next three years